Should Big Oil Pay For Climate Change?

On Wednesday, New York City announced that it would sue the five oil majors—ExxonMobil, Chevron, ConocoPhillips, Royal Dutch Shell and BP—over their role in fueling climate change. Also, New York City Mayor Bill de Blasio said that the city’s $189 billion pension fund would divest itself of fossil fuels, although such a move would need to be approved by the funds’ trustees. “This is a tragedy that was wrought by the fossil-fuel companies,” de Blasio said at a news conference. “We are going after those who…

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